Doubleline Total Correlations

DLTNX Fund

USD 8.97 0.02 0.22%

The current 90-days correlation between Doubleline Total Return and Doubleline Total Return is 0.92 (i.e., Almost no diversification). The correlation of Doubleline Total is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Doubleline Total Correlation With Market

Significant diversification

The correlation between Doubleline Total Return and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Doubleline Total Return and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Doubleline Total Return. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Doubleline Mutual Fund

0.85	DLELX	Doubleline Emerging	Pair Corr
0.73	DLFRX	Doubleline Floating Rate	Pair Corr
0.98	DLFNX	Doubleline E Fixed	Pair Corr
0.83	DLEUX	Doubleline Shiller	Pair Corr
0.7	DLGBX	Doubleline Global Bond	Pair Corr
0.88	DLINX	Doubleline Flexible	Pair Corr
0.96	DLLDX	Doubleline Long Duration	Pair Corr
0.94	DLSNX	Doubleline Low Duration	Pair Corr
0.93	BILTX	Doubleline Infrastructure	Pair Corr
0.94	BILDX	Doubleline Infrastructure	Pair Corr
0.83	DSEUX	Doubleline Shiller	Pair Corr
0.81	DBELX	Doubleline Emerging	Pair Corr
0.75	DBFRX	Doubleline Floating Rate	Pair Corr
1.0	DBLTX	Doubleline Total Return	Pair Corr
0.92	DBLSX	Doubleline Low Duration	Pair Corr
0.95	DBLNX	Doubleline Income	Pair Corr
0.86	DBLLX	Doubleline Low Duration	Pair Corr
0.95	DBLIX	Doubleline Income	Pair Corr
0.63	DBLEX	Doubleline Emerging	Pair Corr
0.74	DBLGX	Doubleline Global Bond	Pair Corr
0.99	DBLFX	Doubleline E Fixed	Pair Corr
0.93	DBSCX	Doubleline Selective	Pair Corr
0.94	DDCFX	Doubleline Core Fixed	Pair Corr
0.92	DDLDX	Doubleline Low Duration	Pair Corr
0.96	DDTRX	Doubleline Total Return	Pair Corr
0.86	DELNX	Doubleline Low Duration	Pair Corr
0.88	DFFLX	Doubleline Flexible	Pair Corr
0.87	DFLEX	Doubleline Flexible	Pair Corr
0.95	DOXIX	Dodge Cox Income	Pair Corr
0.99	MWTNX	Metropolitan West Total	Pair Corr
0.99	MWTSX	Metropolitan West Total	Pair Corr
0.98	PTTPX	Pimco Total Return	Pair Corr
0.98	PTRRX	Total Return	Pair Corr

Related Correlations Analysis

	DBLTX	MWTIX	MWTSX	GIBLX	GIBIX	PDBZX	PTRQX	IBFFX	PAVLX
DBLTX		0.99	0.99	0.98	0.99	0.99	0.99	0.96	-0.09	DBLTX
MWTIX	0.99		1.0	0.99	0.99	1.0	1.0	0.96	-0.06	MWTIX
MWTSX	0.99	1.0		0.99	1.0	1.0	1.0	0.96	-0.04	MWTSX
GIBLX	0.98	0.99	0.99		1.0	1.0	1.0	0.96	-0.03	GIBLX
GIBIX	0.99	0.99	1.0	1.0		1.0	1.0	0.97	-0.04	GIBIX
PDBZX	0.99	1.0	1.0	1.0	1.0		1.0	0.97	-0.03	PDBZX
PTRQX	0.99	1.0	1.0	1.0	1.0	1.0		0.97	-0.04	PTRQX
IBFFX	0.96	0.96	0.96	0.96	0.97	0.97	0.97		-0.1	IBFFX
PAVLX	-0.09	-0.06	-0.04	-0.03	-0.04	-0.03	-0.04	-0.1		PAVLX
	DBLTX	MWTIX	MWTSX	GIBLX	GIBIX	PDBZX	PTRQX	IBFFX	PAVLX

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MWTSX	+ 1.0	MWTIX
PDBZX	+ 1.0	MWTIX
PTRQX	+ 1.0	MWTIX
GIBIX	+ 1.0	MWTSX
PDBZX	+ 1.0	MWTSX
PTRQX	+ 1.0	MWTSX

High negative correlations

PAVLX	- 0.1	IBFFX
PAVLX	- 0.09	DBLTX
PAVLX	- 0.06	MWTIX
PAVLX	- 0.04	PTRQX
PAVLX	- 0.04	GIBIX
PAVLX	- 0.04	MWTSX

Risk-Adjusted Indicators

There is a big difference between Doubleline Mutual Fund performing well and Doubleline Total Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Doubleline Total's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DBLTX	0.17	0.03	(0.04)	1.53	0.00	(0.22)	0.45	(0.22)	1.01
MWTIX	0.19	0.03	(0.03)	1.13	0.00	(0.23)	0.43	(0.33)	1.09
MWTSX	0.19	0.03	(0.03)	0.98	0.00	(0.24)	0.35	(0.35)	1.05
GIBLX	0.16	0.03	(0.05)	1.18	0.00	(0.19)	0.37	(0.25)	0.92
GIBIX	0.17	0.03	(0.05)	0.90	0.00	(0.20)	0.37	(0.29)	1.00
PDBZX	0.18	0.03	(0.04)	0.94	0.00	(0.22)	0.41	(0.33)	1.07
PTRQX	0.18	0.03	(0.04)	1.00	0.00	(0.20)	0.33	(0.33)	0.99
IBFFX	0.13	0.02	(0.15)	1.09	0.00	(0.17)	0.32	(0.24)	0.79
PAVLX	0.47	(0.03)	(0.07)	0.00	0.57	(0.55)	0.98	(1.02)	3.38

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